Florentino Pérez, on the proposed statutory reform: “We want all 100,000 members to be active guardians of our patrimony.”
After the vote, the club president spoke about the proposal that will be presented at an extraordinary assembly in the near future.
During the 2025 Ordinary General Assembly of Delegate Members, after the accounts for the 2024/25 financial year, the 2025/26 budget and the membership fees for 2026/27 had been discussed and approved almost unanimously, club president Florentino Pérez took the floor again and said a few words about the proposed statutory reform that will be submitted to the members for consideration in the near future: "As I mentioned earlier, before concluding this Assembly, I would like to say a few words about the proposed statutory reform that we will be submitting for your consideration in the near future. We will do so, first, because of its importance and significance, at an extraordinary assembly of delegates. And then, with your support, we will convene a referendum so that all members can have their say."
"First, I would like to say that I have read some absurd things. I am going to step down as president of Real Madrid in a year. I want to keep the club. Or that the club would become the property of a foundation, which is the same as saying that we would take it away from its owners, the members. Or that this reform would cost the members money. Or that we are doing this because we need the money. When everyone knows that we are the richest club in the world and what we want is to remain so and defend our heritage. It's complete nonsense."
Union
"I have also read that the Board of Directors is divided over this reform. I can assure you that all the members of this Board unanimously support this reform because we have always been united and because we are fully aware of the threats we face."
"I have even read that it would be approved without a referendum, when I announced in this assembly a year ago that this would never be the case. So many lies, all with the same origin and the same intention. But nothing you don't already know or that should surprise you. These attacks are nothing more than a childish attempt to destabilise the club by treating the members like fools."
Protecting the club and promoting its value
"Firstly, it is important that we are all convinced that our membership model, comprising 100,000 members united around a tradition, is the very formula for success that has brought us this far. I firmly believe that our membership structure must be preserved and strengthened for the future through a reform of the statutes. Why do we want to reform the club's statutes and what does the reform consist of?”
"I will be brief, because this is not something we are going to discuss today as just another item on the agenda of this ordinary meeting. This matter warrants explanation at an extraordinary meeting, which we will hold as soon as possible. There are essentially two reasons for the reform: to shield the club from external and internal attacks on our assets, and to highlight their value so that we are all aware of the treasure that we, as members, have in our hands."
"I have been explaining to you for years that the club has enemies who want to take over our assets, as has happened at other clubs. Our financial and institutional strength, based on the unity of all of us, the members, is an obstacle to their plans. And that is why we are constantly under attack."
The members are the owners of the club
"However, I fear that many of Real Madrid's members are not even aware that they are the financial owners of the club. Perhaps this is because when I joined in 2000, the club was technically bankrupt. And every time we suffer an attack, such as those I have described, it is not only Real Madrid that suffers, but all 100,000 members. We must be aware that we are all the owners of Real Madrid. And with this reform, we will be even more so."
"To this end, I will propose that the current 100,000 members also be recognised as the real owners of the club, and that the number of members be fixed for the future. With this protection in place, no one will be able to diminish our status as owners or alter the balance that guarantees the independence and stability of Real Madrid. It will be us, the members of today, who will have the responsibility of safeguarding our culture of values and ensuring that our club continues to lead world football for many generations to come."
The tangible value of being a member
"Within this framework, a new member may be admitted when a member passes away, with priority always given to the children and descendants of members, thereby preserving the family tradition and spirit that has made our club great. All current members will retain their rights in full and will also enjoy new financial rights that we do not currently have. Under the current statutes, when we pass away, we leave no financial rights to our heirs."
"Having a Real Madrid membership card will no longer be just a sentimental matter: it will also have tangible and real value. And, of course, we will continue to maintain our current membership structure: our assembly of delegates with their powers, our system for electing the president and Board of Directors. Our current season ticket system will also remain the same.”
The guardians of our patrimony
"We want our historic structure to withstand the challenges of the future, and now more than ever, we need all 100,000 members to actively act as guardians of our heritage. Over the past few months, I have thought deeply about how to further strengthen our sense of collective ownership and how to unequivocally showcase the value of Real Madrid. And the conclusion is clear: we will continue to be a members' club, but we must create a subsidiary in which the 100,000 members of Real Madrid will always retain absolute control. On that basis, this subsidiary could simply incorporate a minority stake, for example, 5 %—never more than 10 %—from one or more investors committed to the very long term and willing to contribute their own resources."
"Why should we take this step? Because it is the clearest and most compelling way to value our club. The fact that someone is willing to invest such a significant amount for a symbolic stake is the greatest demonstration of the value of Real Madrid. At the same time, such a limited stake ensures that control, governance and the essence of the club will always remain in the hands of the members, our delegates and our Board of Directors."
Respecting our values
"That investor or investors must respect our values, contribute to the growth of the club and help us protect our assets from external attacks. And, if they wish to transfer their stake, Real Madrid will always have the right to buy it back. In short, they will be a strategic ally and never an owner."
"This step means ensuring that our history remains alive for the next hundred years. Just as in 2000, we undertook a reform of the club that allowed us to move from a very delicate situation to global leadership, today we must embark on a new phase that consolidates us as the most valuable, influential and admired club of the 21st century."
"Above all, it cannot, under any circumstances, fall into anyone else's hands. We hold a treasure in our hands, and it is our collective duty to take care of it while maintaining our values. With this well-designed, transparent step, subject to the free decision of all members by referendum, we will continue to be what we have always been: the best club in the world and the example that everyone wants to follow."